Debt Plans

NDC has been rated as “Excellent” by our clients, reflecting our commitment to providing high-quality debt advice and support.

In order to better understand how we can help you, once we receive your details, one of our NDC advisors will call you back to carry out a financial assessment of your situation. Our advisors have years of experience in understanding debt and have successfully helped thousands of individuals over the years.

We understand the impact of debt on you and your family and how stressful it can be. Rest assured that our advisors will be friendly and polite when you get in touch and help you understand the options available to you.

Ignoring your debts can lead to serious problems. Getting help as soon as possible can help you deal with your debts and with the lenders that you owe money to. There are a variety of options available depending on your circumstances, and our advisors will discuss the pros and cons of each to help you decide what is best for you.

Debt Management Plan (DMP)

A Debt Management plan is an informal arrangement between you and your creditors, where you make an affordable monthly payment to repay your unsecured debts e.g. credit cards, store cards, loans and overdrafts.

Individual Voluntary Arrangement (IVA)

An IVA is a simple, flexible and effective way of getting rid of all your debts. You can expect to write off up to 85% of your unsecured personal debts with an IVA.

Protected Trust Deed (PTD)

A formal debt solution which combines all debts into a single monthly payment. A protected trust deed lets you make reduced payments over a fixed time after which the remaining debt will be written off. Available in Scotland only.

Bankruptcy

Bankruptcy is often considered the last resort for people struggling with debt because there are other debt solutions to consider first. It is a legal declaration for people who cannot afford to pay their creditors.

Debt Relief Order (DRO)

An alternative to bankruptcy for people with debts of less than £30,000 (£20,000 in Northern Ireland). A DRO can write off debts if you have few assets and a low income.

Debt Arrangement Scheme (DAS)

Available to residents of Scotland only, a DAS is a Scottish Government-backed debt management scheme which allows you to repay your debts through a debt payment program.

Sequestration

The equivalent to bankruptcy in Scotland, usually seen as a last resort for dealing with debt problems. Available to anyone living in Scotland that has a minimum debt level of £3,000.

Minimal Asset Process (MAP)

MAP is a version of bankruptcy in Scotland aimed at people with low income and not many assets.